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How do I get the New Exclusion of up to $10,200 of Unemployment Compensation in turbotax?
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State tax filing
For online versions just enter your 1099-G.
For desktop versions wait for the software update to include the changes.
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The TurboTax online software is updated to reflect the exclusion of up to $10,200.
First, you must enter your 1099-G. To do so, please follow the instructions below:
- Open or continue your tax return in TurboTax.
- Search for unemployment compensation and select the Jump to link.
- On the Did you receive unemployment or paid family leave benefits in 2020? screen, answer Yes.
- Follow the instructions to enter your unemployment.
Then, you can confirm it was removed by following the instructions below:
- Click on Tax Tools.
- Click on Tools.
- Click View Tax Summary.
- Click on Preview my 1040.
- Scroll down to Schedule 1, Part 1. You will see your unemployment on Line 7 and the deduction of up to $10,200 on Line 8.
I have attached a picture below for additional guidance.
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State tax filing
So i checked and it's not showing any number in box 7. I went through and put in my 1099-G and double checked and still not showing up with anything. How do I fix that?
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State tax filing
Make sure that your version has been updated.
Unemployment compensation is taxable on your federal return. Enter your 1099G for unemployment in Federal>Wages and Income>Unemployment
Go through the screens very carefully to enter any federal/state tax you had withheld from the unemployment
For additional information please refer to the following link
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Has the disk top version, disc, been undated to include the $10,200 exclusion.
I have entered my unemployment information, 1099-G, and it is showing, but I have not gotten the credit. I am using the Premier version
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State tax filing
The exclusion of $10,200 of Unemployment Compensation was for the tax year 2020 only. If you are working on the 2021 tax return, you can't exclude Unemployment Compensation from your income.
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